2017 Citizens Report

2017 MAPLE RIDGE FINANCIAL SPOTLIGHT

For the year ended ended December 31, 2017 Consolidated Statement of Operations The Consolidated Statement of Operations is the Public Sector version of an Income Statement, showing the government entity’s revenues and expenses realized over the course of the fiscal year. The difference between annual revenues and expenses is referred to as the annual surplus. The key point to keep in mind with this statement is that the annual surplus does not represent a cash surplus as the amounts reported under expense includes general operating costs and the annual depreciation of tangible capital assets used in service provision, but does not include the amount of cash invested in infrastructure during the year.

Budget

Actual 2016

Actual 2017

2017

Revenue

Taxes for municipal purposes User fees and other revenue

$ 81,624,555 $ 77,452,203

$ 81,729,003 42,409,361

40,289,865 7,232,253 40,056,557

43,211,346 2,775,735 17,893,281

Government transfers Development revenue

3,434,531 8,155,007

Interest and investment income Investment income

561,683

Interest income

2,984,982 (363,771

)

Less: Restricted amount

Interest and investment income

1,898,004 1,050,000 1,500,000 20,000,000

2,478,388 1,338,678 (3,833,337 39,062,791

3,182,894 1,561,090 (807,330 16,725,863

Gaming revenues

)

Refinancing and asset disposal gain (losses)

)

Contributed tangible capital assets

193,651,234 180,379,085

156,390,419

Expenses

Protective services

40,620,751 35,844,566 21,090,430 15,835,722

38,065,340 19,511,458 19,784,632 13,305,309 10,761,203 15,106,167 5,818,396

Transportation services Recreation and cultural

21,236,613

21,584,478

Water utility Sewer utility

14,560,540 12,628,882

10,964,767 17,876,072 6,616,582

10,068,307 14,821,099 5,518,328

General government

Planning, public health and other

132,965,755 116,301,382

122,352,505

60,685,479

64,077,703

Annual surplus

34,037,914

Accumulated surplus - beginning of the year

1,063,901,751 999,824,048

1,063,901,751

Accumulated surplus - end of the year

$1,097,939,665 $1,124,587,230 $1,063,901,751

The 2017 Annual Report contains more detailed information on the financial position and results of operations. Copies can be obtained from the Fraser Valley library, Maple Ridge City Hall and online www.mapleridge.ca/163/Annual-Report.

Financial Assets - Assets that could be used to discharge existing liabilities or finance future operations, such as cash receivables and portfolio investments. Net Financial Assets - The excess of financial assets over liabilities.

Non-Financial Assets - Assets that are acquired, constructed or developed that do not normally provide resources to discharge existing liabilities, but are normally employed to deliver government services or may be consumed in the normal course of operations.

Tangible Capital Assets - Assets of long-term character that are intended to continue to be held or used, such as land, buildings, machinery, furniture, and other equipment. These assets have a sigificant value and a useful life of greater than one year. Capital assets are also called fixed assets.

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